Thailand has introduced significant changes to its visa rules to attract skilled professionals, investors, and wealthy foreigners.
These updates aim to simplify the process of obtaining long-term residence permits and promote a more inclusive environment for foreign residents.
The Thai cabinet has approved these changes, making it easier to acquire a long-term resident (LTR) visa.
Notably, the income requirement for the “wealthy global citizen” category has been abolished, making the program more accessible to a wider group of applicants.
No Limit on Dependents for LTR Visa Holders
One of the key changes is the removal of restrictions on the number of dependents for LTR visa holders.
Previously, only four dependents were allowed, but now visa holders can bring an unlimited number of dependents, including parents and other legal dependents.
This move is intended to create a more family-friendly and inclusive environment for foreign residents.
The LTR visa scheme, first introduced in 2022, offers numerous benefits, including a 10-year residence permit, tax incentives, and a digital work permit.
The program was designed to boost Thailand’s post-pandemic economic recovery.
Additionally, the corporate revenue requirement for international companies sponsoring visa applicants has been reduced from $150 million to $50 million over the past three years.
Promoting Investment and Talent
Narit Therdsteerasukdi, Secretary-General of the Thailand Board of Investment (BOI), emphasized the importance of these changes, stating, “These changes have been made to attract more investments and high-caliber talent to the country.
We are promoting the importance of expedited visa processes to facilitate company operations in the country.”
These updated visa rules are expected to make Thailand an even more appealing destination for global professionals and investors.
